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Ireland recovery story: Gilmore

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Tanaiste Eamon Gilmore has predicted Ireland will be the recovery story of recent financial turmoil

Tanaiste Eamon Gilmore has predicted Ireland will be the recovery story of recent financial turmoil

Tanaiste Eamon Gilmore has predicted Ireland will be the recovery story of recent financial turmoil

Ireland will be the recovery story in the eurozone and EU, Tanaiste Eamon Gilmore has said.

The Foreign Affairs and Trade Minister said he believes progress will be made in the quest for a cut in the country's international loans as he met German counterpart Guido Westerwelle in Berlin.

"Ireland will recover, Ireland will be the recovery story in the eurozone and the European Union," Mr Gilmore said.

Mr Gilmore said he expressed the importance of a reduction in the interest rate on Ireland's international loans to Mr Westerwelle.

Germany and France have opposed the call for a rate cut, with the latter demanding a hike in Ireland's controversially low corporation tax rate in return.

"I think the fact that Ireland is making progress and I think the fact that the Irish Government is seen to be successful, I think that that will produce results," Mr Gilmore said.

Mr Westerwelle said the growth in the Irish economy and exports shows the "continuing international competitiveness" of the country.

He said he saw signs that Ireland could return to the markets before the end of 2012.

Mr Gilmore dismissed speculation that Ireland could have its sovereign debt relegated to junk status, claiming these were opinions by private ratings agencies based on sentiment and not facts.

PA


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